Capital Allowances Act 2001 section 103

Later claims

Section 103 ensures that plant or machinery once treated as a long-life asset retains that classification when subsequent capital allowance claims are made on the same asset, including by different owners.

• If a capital allowance claim has already been made treating expenditure on plant or machinery as long-life asset expenditure, any later claim on the same asset must also be treated as long-life asset expenditure
• This rule applies regardless of who makes the later claim and regardless of when the expenditure was incurred, even if it predates the original claim
• The rule does not apply where the expenditure is specifically excluded from being long-life asset expenditure under sections 93 to 96 (covering fixtures, certain plant in dwelling houses, ships, and cars)
• A Part 2 claim is made by including expenditure in a tax return, amending a tax return to include it, or making a claim in any other permitted way